Report: Samsung, Under Armour to partner for wearable devices

Samsung (OTC:SSNLF) is looking to partner with Under Armour (NYSE:UA) to increase its wearable devices product line, South Korea's Yonhap news agency reports.

A meeting was stated to have taken place between Lee Jay-yong, the heir of Samsung Group, and Under Armour CEO Kelvin Plank earlier this month discussing ways to combat Apple-Nike's wearable device market share.

Apple and Nike have been connecting sports wear with smart devices since 2006.